Are Bank Safe Deposit Boxes Still Safe?

[@shahenshahen425]

Hi... I had safety deposit box....in.... > ....IN OHIO.....it has been closed/ bankruptcy....... and everything in box is gone........ what you think can be done ?.....Thank you

[@dougl945]

Trust me.... once it goes missing, the owner suddenly had 10 million in valuables.

[@LifeontheWrist]

Hahaha

[@grant_watchesblank1340]

It was an interesting article to read. I am at a loss, like you said, with where I want to keep my collection now

[@LifeontheWrist]

Glad The NY Times brought this up

[@JohnT2088]

There are risk of losing it at bank but its still safer in the bank then at home for most average people.

[@LifeontheWrist]

Yup, you are right! It’s the risk one takes

[@vitalityfox]

I'm not retarded. I bury my valuables.

[@JohnT2088]

Dad hahaha give me the location in case one day you forget where u bury it. Im ur backup

[@MountainMan7.62x39]

If you have valuables worth this kind of money, they should be insured. Not just kept in a safe deposit box. Most insurers offer a discounted rate on the property called a "vault rate".

[@LifeontheWrist]

Good advice!

[@armandosancerni4624]

Also the state that require for the banks to hand over the item aggressively pursue the owner so they get their items back. Depending on the state item may on auction or sold but that is usually because storage issues and can be 7 or even as much 20 years. Proceeds go to our wner or heirtance of the ownership and stays in an account idenfinetly. NY and California do not have those laws it is free for all. No real protection for the owner

[@LifeontheWrist]

Very interesting, didn’t know it varied so much by state

[@dougl945]

Hide them in plain sight: food boxes... etc. they are safer.

[@LifeontheWrist]

Not bad advice, people won’t expect them to be there!

[@blanchy]

I saw a show where an elderly woman returned a box of crackers (I know) and she had placed $10k in the box. When you hide things you introduce other issues... I found the story... Allie Rogoff of Irvine poses with $10,000 in crisp $100 bills discovered in a box of crackers from Whole Foods. The money was returned to the rightful owner, who had stashed her life savings in the box and mistakenly returned the item to the store.

[@steelhurricane4041]

​@@LifeontheWristunless they have the munchies while ripping you off.

[@armandosancerni4624]

The actual issue are state laws New York and California are the worse. Majority of state protects safe deposits box owners . For instance Texas requires bank to call state treasure and they collect and save the items while California allows banks to take the item and sell them for payment. So know your state laws .... bank america is the worse in NY and CA for safety deposit boxes security.

[@LifeontheWrist]

Wow great insight, definitely good advice too!

[@microspect]

What about credit unions?

[@jorgetoloza269]

So why is it called safety deposit box if is not safe?🤔

[@LifeontheWrist]

Good question 😂 thanks for watching!

[@rondaleestill3360]

Some how the bank should be held accountable

[@LifeontheWrist]

It is definitely a difficult situation

[@winstonreds414]

The guy that owns the watches in his safe, is the guy that stole/switched the watches in the safe😂

[@LifeontheWrist]

lol!

[@jamest3164]

Keep them in the sock drawer haha!

[@LifeontheWrist]

Haha might have to!!!

[@richardparis8738]

Nothing is safe

[@chriscruz8269]

I was just thinking about putting a lot of money in there no I’m worrierd

[@LifeontheWrist]

Just do your homework before you put it in!

[@nadiadee4158]

You should be! My Wells Fargo box was cleared empty. Family jewelry, cash, personal documents all gone...

[@devinalosa7543]

Omg same. I was about to put 20k and some gold and my passport

[@chriscruz8269]

I’m gonna put it in my uhaul storage unit

[@LifeontheWrist]

Haha that’s one place!

[@cluedin]

Wouldn’t you split $10m amongst multiple boxes?

[@LifeontheWrist]

I am not sure! Thanks for watching

[@terryross1326]

Buy your own safe! Never trust a bank!

[@LifeontheWrist]

Yes!

[@steelhurricane4041]

Nay. If you have a home invasion and the crooks just might kill after getting the money. Bad idea. Home safe is risky I heard a story about a woman that almost lost her life because she drew a blank about the combo to the safe being traumatized by her Intruders.

[@rodneybardin9281]

Write down what you to say instead of guessing and mumbling your way through.

[@LifeontheWrist]

Thanks! I think I have improved on our more recent videos. Thanks for watching

[@nunukatoney8509]

I read that article today.

[@LifeontheWrist]

Nice! What did you think of it?

[@rondaleestill3360]

Wow this crazy !

[@LifeontheWrist]

indeed!

[@MountainMan7.62x39]

OMG it's a "Safe Deposit Box" not a "Safety Deposit Box"

[@LifeontheWrist]

Thanks for clearing that up!

[@richardparis8738]

Hide in the house

[@coffeewiththeunknown8302]

Buy a good safe and drill it to the ground

[@bluewater8955]

Burry ur gold in the ground

[@LifeontheWrist]

Good advise!

[@anthonyroberts2678]

Put your money in a pickle jar. Do not trust the banks!

[@LifeontheWrist]

Good advice! Haha